Setting Company Bank Accounts on Talexio

Alasdair MacNeill
Alasdair MacNeill
  • Updated

Overview

Using Talexio, you can pay your employees using an automatically generated payment file which the payroll officer will send to the bank. This file includes instructions on each payment, including the beneficiary (employee) details and also the amount to pay them.

When adding the Company Bank Account on Talexio, there are certain requirements that need to be filled in order for the system to generate a payment file.

The Onboarding Assistant's appearance has been updated. The videos in this article may look different from your account, but the system works the same.

Prior to generating your first payment file, you will need to make sure the Payroll Settings are completed. 

Permissions

To set up your company's bank account, you will need the Manage Client Settings permission set on Global.

Setting up the Company Bank Account

  • STEP 1:
    Go to the Settings section, click on the Payroll tab, and click on Manage Bank Accounts. Then click on + New Bank Account.

    Company Bank Account.jpg
    Company Bank Account 2.jpg

     
  • STEP 2:
    In the dialog box that opens, you will need to complete your Bank Account details such as IBAN, BIC, Unique Client ID. Not every detail is required by all banks, but there is a table in this article showing which ones are required by which bank. You can also set the bank as default as you may have multiple accounts added.

    Click Create and the account will be added to Talexio.

     
  • STEP 3:
    To add more Bank Accounts, simply repeat the process from STEP 1 again.

You can also do this directly through the onboarding assistant, following the same steps.

Bank Requirements

The following is a breakdown of requirements for each Bank currently supported on Talexio.

  • IBAN - An IBAN, or International Bank Account Number, is a standard international numbering system developed to identify a bank account.
  • BIC - A BIC is a standard format for Business Identifier Codes (BIC). It’s used to identify banks and financial institutions globally.
  • Account Number - An account number is your unique reference to your account with a certain bank.
  • Unique Client ID - Certain banks require you to include your Unique Client ID to be included in the payment file. This Unique Client ID will have been provided to you by your bank. 
    • APS - The bank Unique Client ID is known as "Corporate Business Code".
    • BOV - The bank Unique Client ID is known as "Subscriber ID"
    • HSBC - The bank Unique Client ID is known as "HSBC Connect Customer ID"

The following table outlines which of these fields is required by the banks supported on Talexio.
 

Bank 

IBAN

BIC

Account Number

Unique Client ID
   ABN AMRO

✅

✅

    

APS

✅

✅

 

✅
  AIB (Allied Irish Banks)

✅

✅

    
  Banco Sabadell

✅

✅

    
  Belfius Bank

✅

✅

    

BNF

✅

✅

 

 
  BNP Paribas

✅

✅

    

BOV

✅

✅

 

✅
  CaixaBank

✅

✅

    
  Citi

✅

✅

    
  Commerzbank

✅

✅

    

ConnectPay

 

 

 

 
   Danske Bank

✅

✅

    

Deustche Bank

✅

✅

 

 
   DZ Bank

✅

✅

    
   Finductive

✅

✅

    
   Goldman Sachs

✅

✅

    
   ING Bank

✅

✅

    
   Intesa Sanpaolo

✅

✅

    
   J.P. Morgan

✅

✅

    
   Helaba

✅

✅

    

HSBC

✅

✅

 

✅
   KBC Bank

✅

✅

    

Lombard

✅

✅

 

 

Mano Bank

✅

✅

 

 

MeDirect

 

 

✅

 
   NatWest

✅

✅

    
   Nordea

✅

✅

    
   OTP Bank

✅

✅

    
   PKO Bank Polski

✅

✅

    
   PostFinance

✅

✅

    
   Rabobank

✅

✅

    
  Raiffeisen (RBI)

✅

✅

    

Revolut

✅

✅

 

 
   Santander

✅

✅

    
   SEB

✅

✅

    
   SIX Group / Swiss Network

✅

✅

    
   Société Générale

✅

✅

    

Sparkasse

 

 

✅

 
   Standard Chartered

✅

✅

    
   Swedbank

✅

✅

    

UniCredit Bank Austria AG

✅

✅

 

 
   Barclays Bank

✅

✅

 

✅

Bank of America

✅

✅

    

Banking Circle

✅

✅

    

 

As from November 2023, following a change in requirements by the bank, Bank of Valletta (BOV) payment files are no longer encrypted. Using Talexio, you will be able to generate the payment file in the bank's required format.

Other Payment File Information

Once your bank details have been saved on Talexio, you may wish to create a test payment file. For more information, click here.

Since this file is read by an automated system on the bank's end, each bank has its own set of rules which are programmed into Talexio which include how the file should be shaped and what information it should contain. To learn more about these rules, click here.

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